With the Wells Fargo Business Platinum Credit Card, you choose which rewards program (cash back or points) benefits your business the most, and rewards can be applied toward all purchases, with no category limitations. Since it’s a Visa card, you can enjoy its wide acceptance and reputation for reliability and security. Also, it has a 0% annual percentage rate (APR) for the first nine months and charges a $0 annual fee.
Wells Fargo Business Platinum Credit Card
BEST FOR:
Those with a Wells Fargo checking or savings account that has been open for at least one year
- Get a one-time $300 cash back bonus or 30,000 bonus points when you enroll in the Business Card Rewards Program and spend $3,000 in the first three months of account open date
- Earn 1.5% cash back on every $1 spent
- Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period
- No annual card fee, plus up to 99 employee cards (no additional fee)
- Cash management tools
- Spending reports available online
- Online banking and bill payment options
Pros
- Cardholders can choose between cash back or points in earning rewards
- With an interest-free financing period for the first nine billing cycles
- Can create up to 99 employee cards at no additional cost
Cons
- Cash back rewards are distributed on a quarterly basis
- You’ll need a Wells Fargo checking or savings account that has been open for at least one year to qualify
- Travel and emergency assistance services: Available for Visa cardholders 24 hours a day, 365 days a year. Specific services and their details can be found here.
- Extended warranty protection: Warranty coverages can be doubled up to one additional year on eligible warranties of three years or fewer.
- Employee cards: You can create up to 99 employee cards at no additional cost
- Zero liability protection and fraud monitoring: Can be fully reimbursed for unauthorized purchases or ATM transactions. In addition, Wells Fargo proactively monitors your business accounts to prevent fraudulent use of your card.
- Get a one-time $300 cash back bonus or 30,000 bonus points when you enroll in the Business Card Rewards Program and spend $3,000 in the first three months of account open date
- Earn 1.5% cash back on every $1 spent
- Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period
- No annual card fee, plus up to 99 employee cards (no additional fee)
- Cash management tools
- Spending reports available online
- Online banking and bill payment options
Pros
- Cardholders can choose between cash back or points in earning rewards
- With an interest-free financing period for the first nine billing cycles
- Can create up to 99 employee cards at no additional cost
Cons
- Cash back rewards are distributed on a quarterly basis
- You’ll need a Wells Fargo checking or savings account that has been open for at least one year to qualify
- Travel and emergency assistance services: Available for Visa cardholders 24 hours a day, 365 days a year. Specific services and their details can be found here.
- Extended warranty protection: Warranty coverages can be doubled up to one additional year on eligible warranties of three years or fewer.
- Employee cards: You can create up to 99 employee cards at no additional cost
- Zero liability protection and fraud monitoring: Can be fully reimbursed for unauthorized purchases or ATM transactions. In addition, Wells Fargo proactively monitors your business accounts to prevent fraudulent use of your card.
Wells Fargo Business Platinum Credit Card Alternatives
Bank of America Business Advantage Unlimited Cash Rewards
Consider the Bank of America Business Advantage Unlimited Cash Rewards if you seek a card that lets you earn fixed-rate cash back rewards and offers a 0% introductory period on purchases for the first nine billing cycles. Also, you can access your business credit score for free with Bank of America’s Business Advantage 360.
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card
BEST FOR:
Those with an existing business checking account with Bank of America
9 billing cycles
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Earn unlimited 1.5% cash back on purchases, or join Preferred Rewards for Business for no fee, and earn up to an unlimited 2.62% cash back on all purchases if you have a Bank of America® business checking account and qualify for Preferred Rewards for Business Platinum Honors tier.
- No annual cap and cash rewards don’t expire as long as your account remains open.
- No annual fee.
- Choose how to redeem your cash rewards – as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 18.49% to 28.49% will apply.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Pros
- Charges $0 annual fees
- Flexible redemption options
- With welcome offer
- With 0% introductory APR on purchases
Cons
- 0% introductory APR isn’t applicable to balance transfers
- With foreign transaction fees
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Balance Connect®: This helps prevent declined purchases, returned checks, or other overdrafts when you link your Bank of America® Business Advantage Unlimited Cash Rewards to a Bank of America business checking account for overdraft protection.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
9 billing cycles
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Earn unlimited 1.5% cash back on purchases, or join Preferred Rewards for Business for no fee, and earn up to an unlimited 2.62% cash back on all purchases if you have a Bank of America® business checking account and qualify for Preferred Rewards for Business Platinum Honors tier.
- No annual cap and cash rewards don’t expire as long as your account remains open.
- No annual fee.
- Choose how to redeem your cash rewards – as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 18.49% to 28.49% will apply.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Pros
- Charges $0 annual fees
- Flexible redemption options
- With welcome offer
- With 0% introductory APR on purchases
Cons
- 0% introductory APR isn’t applicable to balance transfers
- With foreign transaction fees
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Balance Connect®: This helps prevent declined purchases, returned checks, or other overdrafts when you link your Bank of America® Business Advantage Unlimited Cash Rewards to a Bank of America business checking account for overdraft protection.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
U.S. Bank Business Platinum Card
Wells Fargo Business Platinum Credit Card does not offer a long 0% introductory period on purchases. If you intend to make a large purchase or transfer a significant balance and do not need to earn rewards, then we suggest the U.S. Bank Business Platinum Card as a viable option.
BEST FOR:
Extended 0% APR period on purchases 
U.S. Bank Business Platinum Card
Pros
Cons
Pros
Cons
American Express Blue Business Cash™
Wells Fargo Business Platinum Credit Card does not let cardholders spend beyond their credit limit and has a short 0% introductory period. If these are important features to you, then we recommend the American Express Blue Business Cash™. It offers expanded buying power and a 0% introductory period on purchases for the first 12 billing cycles.
The American Express Blue Business Cash™ Card
BEST FOR:
Those who want better cash back rewards
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.74% – 25.74%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- The amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors. Just remember, the amount you can spend with Expanded Buying Power is not unlimited.
- No Annual Fee
- Terms Apply
Pros
- 0% introductory annual percentage rate (APR)
- Welcome offer
- Fixed rate rewards
- $0 annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter. (Car Rental Loss and Damage Insurance can provide coverage up to $50,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.)
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.74% – 25.74%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- The amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors. Just remember, the amount you can spend with Expanded Buying Power is not unlimited.
- No Annual Fee
- Terms Apply
Pros
- 0% introductory annual percentage rate (APR)
- Welcome offer
- Fixed rate rewards
- $0 annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter. (Car Rental Loss and Damage Insurance can provide coverage up to $50,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.)
When evaluating business credit cards like the Wells Fargo Business Platinum Credit Card, we first considered the introductory and ongoing APR. After which, we check if the card offers introductory and ongoing rewards and its standout features, such as purchase protection and extended warranty.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Introductory APR | 30 | 35 |
Ongoing APR | 25 | 35 |
Features | 8 | 10 |
Introductory Rewards | 10 | 10 |
Ongoing Rewards | 10 | 10 |
Total Score | 83 | 100 |
Who the Wells Fargo Business Platinum Credit Card Is Best For
- Those who prefer no category restrictions: This is a great card to choose when your purchases are across the board and don’t fit into just one or two categories.
- Those who run a new business: Small businesses that are just getting started, have minimal debt, and prefer a flexible rewards program should consider this card.
- Those with an active Wells Fargo checking or savings account: To qualify for the card, you’re required to have a Wells Fargo checking or savings account that has been active for more than a year.
Wells Fargo Business Platinum Credit Card Rewards
You can sign up for the Wells Fargo Business Rewards program for free and choose between a cash back or points program:
- Cash back: Earn 1.5% for every $1 spent on qualifying purchases, with no category limitations. Receive your cash back automatically as a statement credit or a deposit to your eligible checking or savings account each quarter―March, June, September, and December:
- Earned cash back is credited every quarter―March, June, September, and December―to either your Wells Fargo business credit card account or an eligible business checking or savings account.
- Points: Earn 1 point for every $1 spent on qualifying purchases. Redeem points for gift cards, airline tickets, and more. Purchases made through Earn More Mall® retailers are worth between two and 20 points per $1. You can also redeem points online and get a 10% points credit each time. In addition, there are no required spending categories or earning limits.
Welcome offer: You can earn either a $300 cash back bonus or 30,000 bonus points, depending on which option you choose, after spending $3,000 in qualifying purchases in the first three months. Plus, receive 1,000 bonus points when your company spends $1,000 or more in any monthly billing period.
Wells Fargo Business Platinum Credit Card Features
Visa-specific benefits
- Travel and emergency assistance services: Receive emergency travel and emergency assistance while traveling. This is available for Visa cardholders 24 hours a day, 365 days a year. Specific services and their details can be found here.
- Auto rental collision damage waiver: Get reimbursement for damages because of either theft or collision, worth up to the Actual Cash Value of most rented cars.
- Purchase security/extended protection: Replace, repair, or reimburse items that were bought using this card. You can get claims of up to $10,000 per claim and $50,000 per cardholder.
- Extended warranty protection: Secure warranty coverages can be doubled up to one additional year on eligible warranties of three years or fewer.
Benefits from Wells Fargo
- Business credit card reporting: Secure this to analyze and track cardholder spending, identify cost savings, and download/print reports.
- Zero liability protection and fraud monitoring: Can be fully reimbursed for unauthorized purchases or ATM transactions. In addition, Wells Fargo proactively monitors your business accounts to prevent fraudulent use of your card.
- Auto rental insurance: You can get coverage for collision and theft
- Travel accident insurance: Receive coverage of up to $250,000 per card
- Overdraft protection: Be protected from both overdrafts and overdraft fees.
- Employee cards: Create up to 99 employee cards at no additional cost
Wells Fargo Business Platinum Credit Card Fees
APR
- Introductory: 0% for nine months after account opening
- Ongoing: Prime plus 7.99% to prime plus 17.99% on purchases, depending on your personal and business credit evaluation
- Cash advance: Prime plus 20.74%
Fees
- Annual/Inactive account: $0
- Balance transfer: 4% ($10 minimum, no maximum) per balance transfer check and convenience check transaction
- Foreign transaction: $0
- Cash advance/transfer: 4% ($10 minimum, $175 maximum)
- Late charges: $25, $39, or $50
- Overlimit: $39
- Returned payment: None
- Overdraft protection advance fee (to linked Wells Fargo deposit account): None
- Stop payment: $29 for every Stop Payment request
- Wire transfer/quasi cash: 4% ($10 minimum, no maximum)
The current payment due will be at least 25 days after the Statement Closing Date. Your payment due is equal to the greatest of one of the following:
- The sum of bank fees and finance charges plus 1% of the new balance
- 2% of the new balance
- $25
- Automatic payments: Sign up for automatic payments through Wells Fargo Business Online® and go to “Add Credit Card Features,” where you can enable automatic payments from your business checking account.
- Mail: Mail your payment to:
Payment Remittance Center
PO Box 77033
Minneapolis, MN 55480-7733
- Phone: Call (800) 225-5935.
- In-person: Visit the nearest Wells Fargo branch.
Bottom Line
Wells Fargo Business Platinum Credit Card is a strong choice for business owners who want flexibility in their rewards program with no purchase limitations. If you’re already a Wells Fargo customer, adding this card to your accounts will help strengthen your financial relationship and possibly allow you to negotiate better interest rates. Additionally, you can combine points with other Wells Fargo business lines of credit to redeem greater rewards faster.
